INTERNATIONAL LTD. FROM 62.9% TO 64.8%
Spirit Resources SARL has acquired 6,349,206 common shares of Diamond Fields International Ltd. at a price of 3.15 cents per share pursuant to the exercise of a share purchase warrant (exercisable at 3.15 cents on or before Jan. 7, 2015) that was previously issued by DFI to Spirit on Sept. 5, 2013, pursuant to the full conversion of a convertible debenture on that date. Spirit is controlled by DFI’s major shareholder, Jean-Raymond Boulle.
After giving effect to the acquisition, Mr. Boulle beneficially owns and controls, directly and indirectly, the following securities of the company: (i) 80,921,642 common shares of the company, representing 64.8 per cent of the company’s issued and outstanding common shares on a non-diluted basis; and (ii) a warrant exercisable to purchase up to eight million common shares at a price of five cents per share on or before May 14, 2014, and thereafter at a price of 10 cents per share until May 14, 2016. On a diluted basis, the securities (assuming exercise of the total warrants) would represent 66.9 per cent of DFI’s then issued and outstanding common shares.
These shares will be held for investment purposes. Mr. Boulle may, depending on market and other conditions, increase or decrease his beneficial ownership of DFI securities, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions, and other available investments and business opportunities.
